Video as a Service Market Trends

Video as a Service Market size was valued at USD 5.81 Billion in 2023 and is poised to grow from USD 8.12 Billion in 2024 to USD 117.78 Billion by 2032, growing at a CAGR of 39.7% during the forecast period (2025-2032).

The market players of the video as a service industry are focusing their efforts on increasing their consumer base and acquiring a competitive advantage. As a result, they are exploring a variety of strategic activities, such as partnerships, acquisitions and mergers, collaborations, and new product/technology development. This collaboration was expected to increase Zoom's customer reach while also improving the user experiences for the unified messaging and Productivity Suite. 'Zoom Video Communications', 'Microsoft Corporation', 'Cisco Systems Inc.', 'Adobe Inc.', 'Google LLC', 'Amazon Web Services Inc.', 'RingCentral Inc.', 'LogMeIn Inc.', 'BlueJeans Network Inc.', 'GoToMeeting', 'Lifesize Inc.', 'Polycom Inc.', 'Arkadin Cloud Communications', 'Fuze Inc.', 'Vidyo Inc.', 'InterCall', 'ZTE Corporation', 'Huawei Technologies Co. Ltd.', 'Videxio AS', 'Kollective Technology Inc.'

As more businesses adopt remote work and virtual collaboration, the demand for video conferencing solutions has increased significantly. Video as a service (VaaS) provides a cost-effective way for companies to access high-quality video conferencing and collaboration tools without having to invest in expensive hardware and infrastructure.

Cloud-based solutions are gaining popularity: Cloud-based solutions are becoming increasingly popular in the video as a service market. This trend is driven by the growing need for flexibility and scalability in video conferencing solutions, as well as the cost-effectiveness and ease of deployment of cloud-based solutions.

North America dominated the market in 2022, accounting for more than 43% of all revenue. The presence of multiple cloud-based video service providers within the region can be linked to this high share. In North America, the market for video conferencing and other cloud-based communication tools is mature. The regional market has grown due to exponential development in need for constant access to visual meetings and high-quality internet. Furthermore, the existence of multiple important players, as well as the increasing appeal of BYOD (Bring Your Own Device) solutions, has resulted in widespread acceptance of webcams and headphones, driving regional market expansion.